If you’re a retail CIO using an on-premise POS system, then we’d bet you’re thinking about a move to a Cloud POS. Cloud-based POS is growing fast, and with no sign of slowing down any time soon.

Quite the opposite in fact, with forecasts of 24.2% CAGR between 2025 and 2030, particularly in North America.

We’ve spoken to customers around the globe who’ve successfully taken the decision to move to cloud – and here’s our summary of the seven things that all CIOs need to know before moving to Cloud POS.

Cloud POS is a complete retail management system. Whereas on-premise POS does just one job – it manages sales transactions – Cloud POS offers way more. It’s a platform that brings together everything you need to do to run your stores and delight your customers: inventory management, loyalty programs, promotions, e-commerce and mobile POS. So as the CIO, you need to know that moving to Cloud POS is not a ‘like for like’ software upgrade, but part of a broader digital transformation strategy.

You’re always looking for ways to reduce IT costs – right? One of big drawcards of Cloud POS is that it eliminates expensive up-front capital spend on in-house POS server and storage hardware. That means you need fewer IT staff too – or you can redeploy them to other projects. With Cloud POS, the provider manages hardware capacity, software upgrades, security and maintenance – all within your monthly fee, which comes from operating expenses. As the CIO, you need to understand this shift and build a new TCO model so you can show the business the cost benefits.

Cloud POS gives you flexibility, scalability and speed. You get faster rollouts and simplified updates – and the agility to handle seasonal spikes or fast store growth. So as the CIO, you need to know that a move to Cloud POS is not a tech project, but part of the corporate strategy for growth and a way of delivering the flexibility to meet ever changing marketplace trends and demands.

Success in retail depends on being able to make the right decisions at the right time. Good decisions are based on good data. Your stores teams can’t afford to wait 24 hours for a download of the previous day’s data – they need to see what’s happening now, for on the spot decisions. Speed is of the essence in decision making – so as CIO, you need to provide your stores with real time, accurate data from across the business. Cloud POS can provide the unified data and smart analytics you need to support smart decision making.

You don’t need us to stress to you the importance of data security, PCI DSS compliance and customer data privacy. They are hot topics in retail right now. One of the benefits of a Cloud POS system is that security and compliance are ‘built in’ to the platform and managed by the Cloud POS provider. So as a CIO contemplating a move to a Cloud POS, you need to select a platform that fully meets all industry standards and offer enterprise-grade protections.

Whilst networks are so much more performant and reliable than in the past, the reality is that network interruptions do still happen. As a CIO moving to Cloud POS, you cannot afford to ignore this. How do you ensure your stores keep operating if there’s a network failure? The answer is to select a Cloud POS solution with a hybrid architecture – so you have a local fallback and keep sales flowing, even when the internet fails.

Your POS platform needs to work seamlessly with other systems in your business, such as your ERP, CRM, and Accounting and Finance systems. Without automated integrations, you have to exchange data between systems manually, taking time and opening you up to human errors and lack of accuracy. So as CIO, you need to know that the most efficient approach is to use a Cloud POS platform that has strong APIs and pre-built integrations with their existing legacy systems.

Moving to a Cloud POS system can be a positive step forward for a retail business. So as a CIO considering Cloud POS, knowing these seven essential Cloud POS facts will ensure you get the very best from your future system.

iVend’s Cloud POS has powered a successful move to the Cloud for retailers around the globe. Contact us now for your demonstration of the power of iVend Cloud.